All three major US indexes opened higher this morning, but enthusiasm tapered off quickly and steadily, if not sharply. A drop in the number of new home sales and a smaller-than-expected rise…
It is not that often that investors get to clean up in a merger arbitrage spread any longer. The buyout of Inhibitex, Inc. (NASDAQ: INHX) by Bristol-Myers Squibb Company (NYSE: BMY) appears…
Jon C. Ogg The tide of patent expirations that is washing over big pharmaceutical houses is cresting now and investors have begun looking forward to how these companies will deal with some sharp blows to…
Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) has been on fire due to the rapid interest of hepatitis C treatments and the bidding of players in the sector. With Merck & Co. (NYSE: MRK) driving further…
You know how stocks sometimes react to news on peers… Today we are again seeing a run in the world of Hepatitis C drug candidates after news that Bristol-Myers Squibb Co. (NYSE: BMY)…
Bristol-Myers Squibb (NYSE: BMY) will pay $2.5 billion in cash (a 163% premium to Friday’s closing price) for hepatitis C drug developer Inhitibex Inc. (NASDAQ: INHX).
Paul Ausick Deal makers were busy over the weekend. Strategic considerations were more the driver of activity than an improved economy, however. Lions Gate Entertainment (NYSE: LGF) will buy Summit Entertainment for $400 million,…
http://platform.twitter.com/widgets/hub.1324331373.html The U.S. may start legal proceedings against Swiss financial firm Wegelin & Co. based on beliefs that it helped shield Americans from taxes. (Reuters) The EPA may send fresh water to…
Bristol-Myers (NYSE: BMY) will buy Inhibitex (NASDAQ: IHNX) for $26 a share about 2.5x what the smaller company’s shares traded for on Friday. The entire consideration, all in case, for Inhibitex, is…
Douglas A. McIntyre The EU continues to work on its bailout fund and may ask the IMF for help. (Reuters) American Airlines parent AMR (NYSE: AMR) files for Chapter 11. (Reuters) S&P cuts its ratings on…
It now costs about $1 billion to get a new drug to market, or, if a company is unlucky, $1 billion to fail to get the drug to market. Like the movie…
The DJIA jumped above 12,000 in the opening minutes of trading this morning and had topped 12,200 by mid-afternoon. European Union leaders have agreed on a deal that would make up to…
Drug maker Eli Lilly & Co. (NYSE: LLY) reported third-quarter earnings this morning, and the company did a little better than analysts expected, but worries persist that the company will be hit…
Drug and medical stocks are not generally thought of as stocks hitting 52-week highs by the investing public. So what about when a company decides to unlock shareholder value by breaking itself…
Sales for the big pharmaceutical companies are expected to be hit by pricing pressure in Europe, a lack of urgent new on the coming flu season, lower rates of prescription writing, and…